KUALA LUMPUR: Winstar Capital Bhd's initial public offering (IPO) of 14.5 million shares for the Malaysian public has been oversubscribed by 80.17 times.

In a filing with Bursa Malaysia, the aluminium products manufacturer said it received a total of 19,881 applications from the Malaysian public for 1.18 billion IPO shares valued at RM411.92 million.

"Under the Bumiputera Malaysian Public category, 9,849 applications for 502.41 million IPO shares were received, which represents an oversubscription rate of 68.3 times.

"Under the other Malaysian public category, some 10,032 applications for 674.50 million IPO shares were received, which represents an oversubscription rate of 92.03 times," it said in a statement filed with Bursa Malaysia.

Under the IPO, a total of 7.25 million IPO shares have been set aside for allotment under the Bumiputera Malaysian public category and another 7.25 million IPO shares were allotted under the Malaysian public category.

Winstar Capital also said that the 15.95 million IPO shares made available for application by eligible persons have been fully subscribed, while the 43.5 million IPO shares offered via private placement to selected investors have been fully placed out.

The company aims to raise RM19.79 million from the IPO priced at 35 sen per share. Its listing on Bursa Malaysia's ACE Market is scheduled for Dec 19.

TA Securities Holdings Bhd is the principal adviser, sponsor, sole underwriter, and sole placement agent for the IPO.

 - BERNAMA